Nuclearelectrica will seek to sell 25.3 million shares between RON11.2 and RON15 each at the IPO, which will take place in the September 9 – September 20 period.
“The net amount that could be raised ranges between RON272.83 million and RON369.29 million,” Nuclearelectrica said in its listing prospectus.
Nuclearelectrica has hired a consortium comprising brokerage firms Swiss Capital and BT Securities to help with the offering, which will include three separate packages for corporate and retail investors.
“Upon a successful completion of the offering, Nuclearelectrica will use the proceeds to finance investment projects at its nuclear reactors in Cernavoda,” the company said.
The offer will be deemed successful if all available shares are subscribed.
Nucleareletrica is majority owned by the Economy Ministry, with a 90.28% stake, while investment fund Fondul Proprietatea (FP. RO) holds the remaining shares.
The company operates two 700-megawatt reactors in Cernavoda, covering around 20% of Romania’s energy consumption.
Nuclearelectrica has swung to a net profit of RON213.2 million in the first half of 2013, versus losses a year earlier. The company’s sales rose 20% to RON930.5 million. (EUR1=RON4.4221)